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Relevance: GS 3 – Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment; Inclusive growth and issues arising from it; Government Budgeting. Why in the News? Corporate investment has remained stagnant despite tax cuts, indicating that availability of resources alone does not drive growth. Last year’s budget emphasized improving coordination …
Read MoreWhy in the News? The National Statistical Office (NSO) released the first advance estimates for GDP for the financial year 2024-25 on January 7. India’s economy is projected to witness a year-on-year (YoY) slowdown in GDP growth: Growth rate for 2023-24: 2% Expected growth rate for 2024-25: 4% The YoY decline may not fully reflect …
Read MoreSyllabus: GS-3: Economics of Animal-Rearing Why in the news? The Ministry of Commerce revised gold import data for April-November 2024, correcting a significant error caused by technical glitches in data migration systems. This revision reduces gold import figures by $12 billion, influencing decisions on import duties and addressing concerns over trade deficits and smuggling. Background …
Read MoreSyllabus: GS-2: Centre-State Relations, Indian Constitution , Co-operative Federalism , Constitutional Bodies. Focus: The Sixteenth Finance Commission, chaired by Arvind Panagariya, is addressing fiscal challenges in India, focusing on equitable resource distribution between States and the Union. Its recommendations will impact the financial autonomy of States like Tamil Nadu and influence the country’s economic trajectory. …
Read MoreWhy in the news? The Union government’s increasing use of cess, reducing the share of divisible taxes to states, has sparked concerns over federalism and financial fairness for state governments. Cess as a Tool to Centralise Revenue: Cess is a specific tax imposed for a designated purpose but not shared with state governments. The Modi …
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